Transport companies will generate 5 percent less turnover in the fourth quarter of 2023.
The Dutch transport sector experienced a 2023 percent decline in turnover in the fourth quarter of 5 compared to the same period the year before, continuing a downward trend that has now lasted for three quarters. This phenomenon is underlined by new figures from Statistics Netherlands, which shows that the sector's turnover for the entire year was 4 percent lower than in 2022. This development appears to be a reflection of broader economic challenges, although certain sub-sectors, such as postal and courier services and the aviation sector, are bucking the trend. were able to record sales growth.
Almost all sectors within the transport industry saw their turnover decline, especially in the transport storage and services industry, which was the hardest hit with a turnover decline of 13,4 percent. Nevertheless, aviation service providers, including airports and baggage handlers, achieved a remarkable growth of almost 23 percent. This indicates a recovering demand for passenger air transport, which is also visible in taxi companies and public road transport, where more turnover was also generated.
However, the freight transport sector shows a different picture, with an overall decline in turnover, except in the storage of goods where a slight growth of 5,1 percent was observed. Most alarming is the 22 percent decline in turnover among forwarders and charterers, a critical link in the logistics chain, which indicates reduced demand for freight transport.
On balance, almost 20 percent of entrepreneurs in the transport sector expect a deterioration in the economic climate for the next three months at the beginning of the first quarter of 2024.
In addition, there has been an increase in the number of bankruptcies within the sector, with 59 companies declared bankrupt in the fourth quarter of 2023, compared to 44 in the same period a year earlier. This could indicate continued financial stress within the sector, despite a relative stabilization in bankruptcies over the year.
The transport sector, which includes more than 65 thousand companies and represents 2,9 percent of the total number of Dutch companies, faces major challenges on the eve of 2024. With three quarters of companies being sole proprietorships, and almost 20 percent of entrepreneurs expecting a deterioration in the economic climate, pessimism in the sector is stronger than the national average. This contrast with the 7 percent of all Dutch entrepreneurs who are negative about the near future highlights the specific concerns within the transport industry.
These data raise questions about the resilience and adaptive capacity of the Dutch transport sector in a changing economic landscape, whereby the need for innovation and diversification of services in particular emerges as possible strategies to better absorb future shocks.
